Planet Labs PBC (NYSE:PL) Stock Price Down 2.9% - Time to Sell?

Key Points

• Planet Labs' stock fell 2.9% to $38.32 on Thursday after trading as low as $36.33, with about 11.9 million shares changing hands (roughly 14% below average) and a market cap near $13.27 billion.
• The company reported Q results with EPS of ($0.48), missing expectations of ($0.05) while revenue of $86.82 million beat estimates and rose 41.1% year‑over‑year; however, margins remain deeply negative (net margin -80.22%, ROE -69.61%) and analysts expect roughly -0.45 EPS for the fiscal year.
• Analyst views are mixed—six Buys, four Holds and one Sell—with a MarketBeat consensus of "Hold" and an average price target of $29.94 despite several recent $35–$40 target upgrades, and insiders (including the CFO) recently sold shares, leaving insiders with about 17.53% ownership.

Planet Labs PBC (NYSE:PL - Get Free Report)'s stock price dropped 2.9% on Thursday . The stock traded as low as $36.33 and last traded at $38.3220. Approximately 11,889,452 shares changed hands during trading, a decline of 14% from the average daily volume of 13,856,653 shares. The stock had previously closed at $39.47.

Analysts Set New Price Targets

PL has been the subject of a number of analyst reports. Wedbush increased their price target on Planet Labs PBC from $30.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, March 20th. Zacks Research upgraded Planet Labs PBC from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Citigroup increased their price target on Planet Labs PBC from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Needham & Company LLC boosted their price target on Planet Labs PBC to $40.00 and gave the stock a "buy" rating in a report on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft set a $38.00 price target on Planet Labs PBC and gave the stock a "buy" rating in a report on Friday, March 27th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $29.94.

Planet Labs PBC Stock Performance

The business's fifty day moving average is $29.38 and its two-hundred day moving average is $21.74. The company has a quick ratio of 1.64, a current ratio of 1.65 and a debt-to-equity ratio of 2.37. The stock has a market capitalization of $13.27 billion, a PE ratio of -49.13 and a beta of 1.83.

Planet Labs PBC (NYSE:PL - Get Free Report) last posted its earnings results on Thursday, March 19th. The company reported ($0.48) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.43). Planet Labs PBC had a negative net margin of 80.22% and a negative return on equity of 69.61%. The business had revenue of $86.82 million during the quarter, compared to analysts' expectations of $78.17 million. Planet Labs PBC's revenue was up 41.1% compared to the same quarter last year. As a group, research analysts anticipate that Planet Labs PBC will post -0.45 EPS for the current fiscal year.

Insider Activity

In other news, CFO Ashley F. Johnson sold 200,000 shares of the company's stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $35.10, for a total transaction of $7,020,000.00. Following the sale, the chief financial officer directly owned 1,895,162 shares in the company, valued at approximately $66,520,186.20. This represents a 9.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert H. Schingler sold 73,683 shares of the company's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $35.07, for a total transaction of $2,584,062.81. Following the sale, the insider owned 256,488 shares in the company, valued at $8,995,034.16. This represents a 22.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 17.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Planet Labs PBC

A number of institutional investors and hedge funds have recently modified their holdings of PL. Van ECK Associates Corp boosted its holdings in shares of Planet Labs PBC by 320.3% in the 4th quarter. Van ECK Associates Corp now owns 7,678,938 shares of the company's stock worth $151,429,000 after purchasing an additional 5,851,758 shares during the period. Barclays PLC lifted its holdings in shares of Planet Labs PBC by 758.1% in the 3rd quarter. Barclays PLC now owns 3,727,743 shares of the company's stock worth $48,386,000 after acquiring an additional 3,293,333 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Planet Labs PBC by 265.6% in the 3rd quarter. Invesco Ltd. now owns 3,450,479 shares of the company's stock worth $44,787,000 after acquiring an additional 2,506,595 shares during the last quarter. Two Sigma Investments LP lifted its holdings in shares of Planet Labs PBC by 257.5% in the 3rd quarter. Two Sigma Investments LP now owns 2,362,275 shares of the company's stock worth $30,662,000 after acquiring an additional 1,701,535 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Planet Labs PBC by 9.7% in the 3rd quarter. Vanguard Group Inc. now owns 18,551,697 shares of the company's stock worth $240,801,000 after acquiring an additional 1,637,880 shares during the last quarter. Hedge funds and other institutional investors own 41.71% of the company's stock.

About Planet Labs PBC

Planet Labs PBC is a public benefit corporation that operates one of the largest fleets of Earth-imaging satellites, providing high-frequency, high-resolution imagery and data analytics to a broad range of industries. The company's multi-spectral satellite constellation captures daily snapshots of the planet, enabling clients to monitor changes in agriculture, forestry, urban development, energy infrastructure and environmental conditions. Planet's imagery platform is designed to support timely decision-making by transforming raw satellite data into actionable insights for business and government users.

Founded in 2010 by former NASA scientists Will Marshall, Robbie Schingler and Chris Boshuizen, Planet Labs grew from a small startup into a key provider in the satellite imaging sector.

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